Minerva, MN is a small city located in Otter Tail County with an estimated population of 1,000 people. It has a relatively low cost of living compared to the US average, making it a great place to live for those on a budget. The median 2-bedroom rent is $840 per month which is much lower than the US average of $1,430. The Grocery Cost Index in Minerva is also quite low at 94 when compared to the US index of 100. This suggests that groceries are substantially cheaper here than other places in America.
Within Minerva there are several local businesses that help keep its economy running including Sullivan's Hardware Store, Bob's Produce Market, and Miller's Auto Parts store. All these businesses provide essential products and services to the community while also creating job opportunities for residents. Lastly, the Grocery Cost Index can be used to compare grocery prices between locations so people can get an idea of how much different items will cost them depending on where they live.
Minerva has an unemployment rate of 8.7%. The US average is 6.0%.
Minerva has seen the job market increase by 2.0% over the last year. Future job growth over the next ten years is predicted to be 23.2%, which is lower than the US average of 33.5%.
Tax Rates for Minerva
- The Sales Tax Rate for Minerva is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Minerva is 7.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Minerva
- The average income of a Minerva resident is $39,683 a year. The US average is $28,555 a year.
- The Median household income of a Minerva resident is $53,750 a year. The US average is $69,021 a year.